Cara Therapeutics Inc. (NASDAQ:CARA) shares rose 9.7% during mid-day trading on Monday . The company traded as high as $7.30 and last traded at $7.13, with a volume of 1,652,203 shares trading hands. The stock had previously closed at $6.50.

CARA has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Wednesday, July 6th. Cantor Fitzgerald set a $24.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC lowered their price target on shares of Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Sunday, August 7th. Finally, Stifel Nicolaus lowered their price target on shares of Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Cara Therapeutics presently has a consensus rating of “Buy” and an average target price of $20.56.

The stock’s market capitalization is $187.84 million. The firm’s 50 day moving average price is $5.88 and its 200-day moving average price is $5.81.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by $0.06. The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.13 million. During the same period in the previous year, the business posted ($0.25) earnings per share. Cara Therapeutics’s revenue for the quarter was down 91.0% compared to the same quarter last year. Equities research analysts predict that Cara Therapeutics Inc. will post ($1.81) earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in Cara Therapeutics by 2.0% in the second quarter. ProShare Advisors LLC now owns 22,880 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 444 shares during the period. Teachers Advisors Inc. raised its stake in Cara Therapeutics by 0.3% in the second quarter. Teachers Advisors Inc. now owns 30,838 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 101 shares during the last quarter. Rhumbline Advisers raised its stake in Cara Therapeutics by 73.5% in the second quarter. Rhumbline Advisers now owns 33,028 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 13,987 shares during the last quarter. California State Teachers Retirement System raised its stake in Cara Therapeutics by 3.1% in the second quarter. California State Teachers Retirement System now owns 44,054 shares of the biopharmaceutical company’s stock valued at $212,000 after buying an additional 1,325 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Cara Therapeutics during the second quarter valued at approximately $249,000. 48.67% of the stock is owned by institutional investors.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system.

5 Day Chart for NASDAQ:CARA

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